The Correlation Value Ranges From

question 28

Multiple Choice

The correlation value ranges from:

• A) 0 to +1
• B) -1 to +1
• C) -2 to +2
• D) -¥ to+ ¥

---

Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard cost allocated to production, based on the actual hours worked.

Machine-Hours

A measure of production time, calculated by the number of hours machines are operating in the manufacturing process.

Budget Variance

The difference between budgeted figures and actual figures for a particular accounting category.

Volume Variance

The difference between the expected and actual sales volumes, impacting revenue and expenses.